MasterCraft Reduces Q1 Guidance; Reaffirms Full Year Guidance

(RTTNews) - MasterCraft Boat Holdings, Inc. (MCFT) said the company is revising first quarter guidance due principally to a temporary delay in the shipment of a key component from a single engine parts supplier for the MasterCraft brand. The company reaffirmed its guidance for fiscal 2022.

"By working closely with our supplier to resolve this temporary delay, we expect shipments of these key parts to resume early in the fiscal second quarter, enabling us to reaffirm our full year guidance," said Fred Brightbill, CEO.

For the first-quarter, the company now expects adjusted earnings per share to decrease in the low-double digit percent range year-over-year, compared to the prior estimate of growth up in the low-20 percent range. The company now expects consolidated net sales growth to be up approaching the 30 percent range, compared to the prior estimate of up in the mid-30 percent range.

Shares of MasterCraft Boat Holdings were down 5% in pre-market trade on Friday.